Consolidated Communications (NASDAQ:CNSL) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Consolidated Communications (NASDAQ:CNSL) in a report released on Saturday morning. The brokerage issued a sell rating on the utilities provider’s stock.

Consolidated Communications Stock Up 1.3 %

Shares of Consolidated Communications stock opened at $4.58 on Friday. The business has a 50-day simple moving average of $4.40 and a 200-day simple moving average of $4.35. The company has a debt-to-equity ratio of 6.09, a current ratio of 0.93 and a quick ratio of 0.93. Consolidated Communications has a one year low of $3.28 and a one year high of $4.65.

Consolidated Communications (NASDAQ:CNSL) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter. Consolidated Communications had a negative return on equity of 19.47% and a negative net margin of 22.42%. The firm had revenue of $274.68 million during the quarter.

Institutional Trading of Consolidated Communications

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Consolidated Communications by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,060 shares of the utilities provider’s stock worth $2,658,000 after acquiring an additional 16,217 shares in the last quarter. Innealta Capital LLC acquired a new position in Consolidated Communications in the first quarter valued at approximately $53,000. California State Teachers Retirement System increased its stake in Consolidated Communications by 54.5% in the first quarter. California State Teachers Retirement System now owns 125,443 shares of the utilities provider’s stock valued at $542,000 after purchasing an additional 44,273 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Consolidated Communications by 9.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,012 shares of the utilities provider’s stock valued at $230,000 after purchasing an additional 4,535 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Consolidated Communications during the first quarter worth approximately $1,488,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

About Consolidated Communications

Consolidated Communications Holdings, Inc, together with its subsidiaries, provides broadband and business communication solutions for consumer, commercial, and carrier channels in the United States. It offers high-speed broadband Internet access, SIP trunking, and voice over Internet protocol (VoIP) phone services; commercial data connectivity services in various markets, including Ethernet services, private line data services, software defined wide area network, and multi-protocol label switching services; networking services; cloud-based services; and data center and disaster recovery solutions.